Envela Co. (NYSEAMERICAN:ELA – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $3.77. Envela shares last traded at $3.34, with a volume of 126,210 shares changing hands.
Wall Street Analyst Weigh In
Separately, TheStreet cut Envela from a “b-” rating to a “c+” rating in a report on Thursday, October 19th.
Envela Trading Down 14.6 %
Institutional Investors Weigh In On Envela
Hedge funds and other institutional investors have recently made changes to their positions in the business. Leo Brokerage LLC acquired a new stake in shares of Envela in the first quarter valued at approximately $542,000. Virtu Financial LLC bought a new position in Envela in the first quarter valued at approximately $214,000. Crown Advisors Management Inc. increased its stake in Envela by 16.7% in the first quarter. Crown Advisors Management Inc. now owns 350,000 shares of the company’s stock valued at $2,275,000 after acquiring an additional 50,000 shares during the last quarter. Ritholtz Wealth Management bought a new position in Envela in the second quarter valued at approximately $89,000. Finally, Denali Advisors LLC bought a new position in Envela in the second quarter valued at approximately $124,000. 9.36% of the stock is currently owned by institutional investors and hedge funds.
Envela Corporation, together with its subsidiaries, buys and sells jewelry and bullion products to individual consumers, dealers, and institutions in the United States. It offers jewelry and fine-watch products, including bridal jewelry, fashion jewelry, custom-made jewelry, diamonds, fine watches, and other products.
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